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Meaning of “cost-of-living allowance” in the English Dictionary

"cost-of-living allowance" in British English

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cost-of-living allowancenoun [C usually singular]

uk   /ˌkɒst.əvˈlɪv.ɪŋ əˌlaʊ.əns/ us   /ˌkɑːst.əvˈlɪv.ɪŋ əˌlaʊ.əns/
an amount of money that an employee gets in addition to his or her normal pay, because the cost of living in a particular area is high: Nurses working in the capital receive an additional 7.5 percent cost-of-living allowance.
(Definition of cost-of-living allowance from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"cost of living allowance" in Business English

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cost of living allowancenoun [C]

uk   us   abbreviation COLA
ECONOMICS, HR extra money that some people receive from their employer, for example, because they work in an area that is very expensive, or because prices have increased: A cost of living allowance is paid to cover the additional living costs incurred by employees who are living away from home.
(Definition of cost of living allowance from the Cambridge Business English Dictionary © Cambridge University Press)
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